Collective EnfranchisementApril 19, 2017
Collective Enfranchisement is the right under the Leasehold Reform Housing and Urban Development Act 1993 (as amended by the Commonhold and Leasehold Reform Act 2002) for a majority of qualifying lessees in a development to purchase of the freehold.
Seel & Co can advise on the procedure including:
- Checking the Eligibility of the building, the tenants etc)
- Organising the company and finances for enfranchisement
- Choosing the Nominee Purchaser, be it an exisiting management company or set up a new freehold holding company.
- Selecting and instructing surveyors and solicitors
- Valuing the purchase price from both the Landlord’s and Tenant’s position.
- Serving the Initial Notice on the landlord
- Preparing for the subsequent procedures
Should you require assistance the please call us to discuss your options.